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Caption: Board of Trustees Minutes - 1962
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]961] UNIVERSITY OF ILLINOIS 341 {excluding funds held for the payment of principal and accrued interest thereon of Bonds which have matured and excluding funds held for the payment of principal and accrued interest thereon and redemption premiums, if any, on Bonds called for redemption but unpaid) may be invested by the Comptroller from time to time in United States Government securities maturing in such manner that at all times sufficient securities will mature not later than ten (10) days prior to each of the next two succeeding interest payment dates to meet the interest and principal payments becoming due on each of said dates. SECTION 2. This resolution and the amendment herein authorized to said Original Resolution shall become effective npon the date the consent of the holders of sixty-five (65) per cent of the outstanding^ bonds is received in accordance with the provisions of Section 12 of said Original Resolution, In all respects not inconsistent with this first amendatory resolution, the Original Resolution is hereby ratified, approved and confirmed. On motion of Mr. Swain, the foregoing resolution was adopted by the following vote: Aye, Mr. Clement, Mr. Harewood, Mr. Hughes, Mr. Johnston, Mr. Pogue, Mr. Swain, Mrs. Watkins, Mr, Wilkins, Mr. Williamson; no, none; absent, Mr. Herrick, Mr. Kerner. ADJUSTMENT OP BIENNIAL OPERATING BUDGET (6) The National Defense Student Loan ProgTam requires that each institution provide funds equal to one-ninth the contribution by the federal government. To date the University has been able to provide matching funds from uncommitted gifts for student aid. However, it appears that before the end of the next bientiium such funds remaining will be inadequate to meet the matching requirements of the federal government. The Vice-President and Comptroller and the Vice-President and Provost recommend that the biennial budget requests from the University Income Fund be increased by $56,000 for the biennium for this purpose. I concur. On motion of Mr. Johnston, this adjustment in the budget was approved by the following vote: Aye, Mr. Clement, Mr. Harewood, Mr. Hughes, Mr. Johnston, Mr. Pogue, Mr. Swam, Mrs. Watkins, Mr, Wilkins, Mr, Williamson; no, none; absent, Mr. Herrick, Mr. Kerner. EXPANDED EDUCATIONAL PROGRAM FOR T H E CHICAGO UNDERGRADUATE DIVISION (7) At the meeting of the Board of Trustees on January 18, 1%1, the Board received recommendations relating to educational policies and plans for the organization of edttcational programs involved in the expansion of the Chicago Undergraduate Division into a degree-granting branch of the University, with the request that action on these be deferred pending study and review by the Board of Trustees. I now recommend that they be adopted. On motion of Mr, Johnston, the recommendations of the President as printed on pages 310 and 311 of the minutes of January 18, 1961, were approved. ARCHITECTS FOR NEW BUILDINGS (8) The Director of the Physical Plant and the Vice-President and Comptroller recommend authorization of contracts for architectural and engineering services for the following building projects: College of Education Building Lundeen and Hilfinger, Bloomington, for complete architectural services at a fee of 6 per cent of construction costs. This firm will give the University credit for payments made to Professor A. Richard Williams, who did the preliminary design work on this building. research Laboratory for Department of Food Technology Glenn G, Frazier and Associates, Urbana, at a fee of 6 per cent of the construction costs, provided that the initial assignment wilt be limited to preliminary studies at a cost of approximately $10,500. Working drawings and
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